News

Begusarai Tax Practitioners Association has urged the CBDT to extend the September 30, 2026, tax audit deadline to October 31, citing Bihar floods, portal issues, delayed utilities and compliance difficulties.

Begusarai Tax Practitioners Association Seeks Extension of TAR, Forms 10B/10BB, and ITR Due Dates for AY 2026-27 

Judgement

ITAT condoned an 86-day delay and restored a taxpayer’s Rs 1.47 lakh foreign tax credit claim to the AO for fresh examination after CPC denied the credit.

ITAT Restores Rs 1.47 Lakh Foreign Tax Credit Claim Dispute for Fresh Adjudication After Condoning 86-Day Delay

IMFA faces a Rs 38.98 lakh Income Tax penalty over capital gains from an FY23 property sale and is considering an appeal.

IMFA Receives Rs 38.98 Lakh Income Tax Penalty Order Over Capital Gains From Property Sale

Notifications

CBDT’s Income Tax (Fifth Amendment) Rules, 2026 revise Form 141 and introduce Schedule E for detailed TDS reporting on immovable property transactions, particularly purchases from non-resident sellers.

CBDT Amends Income Tax Rules 2026, Introduces New TDS Reporting Requirements for Property Transactions

JK Paper faces a Rs 2.54 crore GST demand over alleged excess ITC and plans to challenge the order in appeal.

JK Paper Faces Rs 2.54 Crore GST Demand Over Alleged Excess ITC

MP P.P. Chaudhary has urged Finance Minister to extend the AY 2026-27 Tax Audit Report filing deadline from September 30 to October 31, citing practical and compliance-related difficulties.

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Begusarai Tax Practitioners Association Seeks Extension of TAR, Forms 10B/10BB, and ITR Due Dates for AY 2026-27

ITAT Restores Rs 1.47 Lakh Foreign Tax Credit Claim Dispute for Fresh Adjudication After Condoning 86-Day Delay

IMFA Receives Rs 38.98 Lakh Income Tax Penalty Order Over Capital Gains From Property Sale

CBDT Amends Income Tax Rules 2026, Introduces New TDS Reporting Requirements for Property Transactions

JK Paper Faces Rs 2.54 Crore GST Demand Over Alleged Excess ITC

MP P.P. Chaudhary Urges FM Nirmala Sitharaman to Extend Tax Audit Due Date to October 31